Despite a decade-long slump in property prices and an outflow of corporate investment to China, local real-estate agents said they are upbeat about the market's outlook for 2003, though the market would not return to what it used to be some 10 years ago.
"The domestic real-estate market seemed to have reached its lowest point last year and does not seem likely to fall further over the next two years," said Chou Chun-chi (
In addition, as property developers have sharply cut back new construction projects over the last few years, the over-supply problem is not deteriorating, Chou said.
"Since the economy is expected to grow three to four percent next year, I believe the real-estate market will be recovering in 2003."
Chou also attributed the recovering market to the government's offering of NT$200 billion for low-interest loans to first-time home buyers and the decision to halve the land-value incremental tax for two years, starting April of this year.
According to the central bank, there was only NT$77.3 billion remaining as of Oct.11 of the original NT$200 billion set aside for the preferential loans. The loans have a low interest rate of 2.85 percent.
Sinyi, which adjusted its annual revenue in 2002 from NT$2.04 billion to NT$2.2 billion, said demand remained weak in the Kaohsiung area while demand remained strong in Taipei.
Chen Yun-ru (
However, Chen said that when the loans end it will discourage demand in the following quarters in 2003.
It is estimated that around 350,000 houses will be traded in the local market this year, compared with 320,000 in 2002.
TAKING STOCK: A Taiwanese cookware firm in Vietnam urged customers to assess inventory or place orders early so shipments can reach the US while tariffs are paused Taiwanese businesses in Vietnam are exploring alternatives after the White House imposed a 46 percent import duty on Vietnamese goods, following US President Donald Trump’s announcement of “reciprocal” tariffs on the US’ trading partners. Lo Shih-liang (羅世良), chairman of Brico Industry Co (裕茂工業), a Taiwanese company that manufactures cast iron cookware and stove components in Vietnam, said that more than 40 percent of his business was tied to the US market, describing the constant US policy shifts as an emotional roller coaster. “I work during the day and stay up all night watching the news. I’ve been following US news until 3am
Six years ago, LVMH’s billionaire CEO Bernard Arnault and US President Donald Trump cut the blue ribbon on a factory in rural Texas that would make designer handbags for Louis Vuitton, one of the world’s best-known luxury brands. However, since the high-profile opening, the factory has faced a host of problems limiting production, 11 former Louis Vuitton employees said. The site has consistently ranked among the worst-performing for Louis Vuitton globally, “significantly” underperforming other facilities, said three former Louis Vuitton workers and a senior industry source, who cited internal rankings shared with staff. The plant’s problems — which have not
UNCERTAINTY: Innolux activated a stringent supply chain management mechanism, as it did during the COVID-19 pandemic, to ensure optimal inventory levels for customers Flat-panel display makers AUO Corp (友達) and Innolux Corp (群創) yesterday said that about 12 to 20 percent of their display business is at risk of potential US tariffs and that they would relocate production or shipment destinations to mitigate the levies’ effects. US tariffs would have a direct impact of US$200 million on AUO’s revenue, company chairman Paul Peng (彭雙浪) told reporters on the sidelines of the Touch Taiwan trade show in Taipei yesterday. That would make up about 12 percent of the company’s overall revenue. To cope with the tariff uncertainty, AUO plans to allocate its production to manufacturing facilities in
TARIFF CONCERNS: The chipmaker cited global uncertainty from US tariffs and a weakening economic outlook, but said its Singapore expansion remains on track Vanguard International Semiconductor Corp (世界先進), a foundry service provider specializing in producing power management and display driver chips, yesterday withdrew its full-year revenue projection of moderate growth for this year, as escalating US tariff tensions raised uncertainty and concern about a potential economic recession. The Hsinchu-based chipmaker in February said revenues this year would grow mildly from last year based on improving supply chain inventory levels and market demand. At the time, it also anticipated gradual quarter revenue growth. However, the US’ sweeping tariff policy has upended the industry’s supply chains and weakened economic prospects for the world economy, it said. “Now
RSS